A resistance level has formed in the chart of Colfax Corporation (NYSE:CFX). The stock has been struggling to break through this level, but if it does, a breakout is expected. Read more to learn how to take advantage of this trading opportunity.Colfax Corporation (CFX) is a diversified technology firm that produces welding equipment and medical devices. Its fabrication technology unit is a leading manufacturer of equipment and consumables used in welding, cutting, and joining applications.
Its medical technology segment makes medical devices, including orthopedic braces, reconstructive implants, and other products used for rehabilitation, physical therapy, and pain management.
The company is benefiting from its focus on product innovation, a healthy business system, and its cost-cutting initiatives. This led to a strong quarter, where CFX outpaced both its earnings and sales estimates. CFA has a current ratio of 1.6, which indicates it has more than enough liquidity to handle short-term debt.